The CMA certification includes topics linked with accounting, finance, and business operations. The course is divided into two parts, and each part contains several subjects. These subjects are presented in a practical and structured manner, helping students build a foundation in financial decision-making, analysis, and reporting.
Financial planning and budgeting:
This subject in CMA certification introduces the process of setting financial goals and planning budgets for different business units. It covers how to create operating budgets, financial forecasts, and capital plans. It also includes methods for measuring performance through variances and forecasts.
Cost management:
Cost management is about studying the cost of production and services. This section includes job order costing, process costing, and activity-based costing. It also introduces concepts like standard costing, overhead allocation, and cost behaviour. These topics are used to measure, record, and manage expenses inside a business.
Internal controls and technology:
This subject focuses on protecting company assets and ensuring the accuracy of financial data. It covers risk assessment, control procedures, and types of internal control systems. Topics related to accounting systems and data security are also part of this area. Candidates also study automation, data governance, and reporting systems.
Financial statement analysis:
In this section, learners study how to read and interpret financial statements such as balance sheets, income statements, and cash flow statements. Ratios and trend analysis are used to assess company performance. Topics like liquidity, profitability, and solvency are introduced using numbers and reports from real scenarios.
Corporate finance:
Corporate finance includes topics like capital budgeting, long-term funding, and working capital management. This subject explains how companies make investment choices and manage their financial resources. It includes details about interest rates, cost of capital, and sources of financing such as debt and equity.
Decision analysis and risk management:
This subject includes methods of selecting between different business options using decision-making tools. Break-even analysis, cost-volume-profit relationships, and marginal analysis are studied here. The section also explains how to measure and manage business risk using financial models and probability concepts.
These subjects are part of the two-part CMA exam and are studied through readings, lessons, and practice questions. Regular study and review of each subject prepare candidates for the final exam process.